One time-honored brand, Wangzhihe, established in 1669, has found success by doing just this. After hundreds of years of selling furu (fermented bean curd), the company earned more than 100 million yuan in 2011 by selling cooking wine.

Wuyutai, established in 1887, is famous for its high-quality tea. Provided to China Daily

Wangzhihe's cooking wine is a mixture of rice wine and spices, such as pepper and anise seed, as well as ginger. The company's cooking wine is currently one of the top choices for Chinese customers because of its brand power and unique flavor.

Chen Hongxuan, general manger of Wangzhihe, says the choice to focus on wine was a natural one.

"It is quite common for a Chinese family that cook once a day to use up a bottle of wine each month because it is almost a must for cooking," Chen says. "But not every family would buy the furu."

Wangzhihe makes nearly 100 different types of sauces, from sesame oil, soy sauce to sweetened bean paste. Its newest product is a refined furu with a lower salt content that is tailored for senior consumers. Through its wider range of products, the company is aiming to generate 800 million yuan in sales this year.

Most time-honored firms have experienced decades of being operated jointly by the State and private owners since the 1950s but were left without the shelter of the government after the reform and opening up.

"That's when we got the first stimulation to rely on ourselves, and were determined to reshape our brand," Chen says.

The brand is registered in 41 countries around the world, which Chen says has helped in boosting sales overseas. Wangzhihe began exporting its goods in 2001 and most of its overseas consumers are Chinese who live abroad but more than 90 percent of Wangzhihe's sales take place on the Chinese mainland.

But "another reason why we've kept a double-digit growth since 2000," Chen says, is because the company has evolved how it produces its goods.

Wangzhihe opened its own manufacturing factories in 2000 and spread them throughout nine provinces in China. It soon will have its own design facilities to create new products.

"Wangzhihe has its own advantages," Kang says.

With its own manufacturing factories and design facilities, Wangzhihe can build upon its distribution network.